Nation’s rig count drops to all-time low of 464
HOUSTON – The number of rigs exploring for oil and natural gas in the United States dropped 12 this week to 464 – a record low, as price woes continued in the energy industry.
A year ago, 1,048 rigs were active.
Baker Hughes Inc., a Houston-based oilfield services company, said Thursday 372 rigs were seeking oil and 92 exploring for natural gas.
Among major oil- and gas-producing states, Texas lost eight rigs; Oklahoma three; Alaska two; and Pennsylvania and Kansas one each.
Louisiana gained two rigs and New Mexico one.
Ohio, West Virginia, Arkansas, California, Colorado, North Dakota, Utah and Wyoming were unchanged.
The U.S. rig count peaked at 4,530 in 1981. It previously bottomed out at 488 in 1999.